1. Field of the Invention
This invention relates to remote, portable credit transaction devices and their method of use and associated equipment and apparatus that prevents unauthorized charges against an account number.
2. Background Discussion
Charge accounts are used to make purchases of goods and services and to conduct other credit transactions. Typically, a customer identification code or account number consists of thirteen to nineteen digits. As used herein, the identification customer code and account number are considered equivalent terms, and hereafter only account number is used. Account numbers are displayed on credit cards identifying a customer.
In some instances when credit cards are used, they interact with a credit transaction device. The account number is used to identify the customer and charge purchases against. In addition to the account number, a personal identification number (PIN) is also frequently used to identify the customer. For example, when using automatic teller machines, the customer first inserts an ATM credit card and then keys into the automatic teller machine a personal identification number (PIN) which is needed to authorize the transaction. Even though personal identification numbers reduce unauthorized use of the card, it is still possible for an unauthorized person to obtain access to this number and and the account number and use the card fraudulently.
Because thievery of credit information has reached alarming conditions in the credit industry, there is an industry wide demand for an expedient solution. With the use of computers to conduct credit transactions through the Internet, World Wide WEB, and the use of radio (cellular) telephones which are easily tapped into to steal credit information, security measures must be adopted. But these measures should be inexpensive, simple to implement, and be readily accepted and convenient for the customer.